CDC Group, Finnfund commit $70m to AfricInvest Fund IV
CDC Group and Finnfund have announced a $70 million commitment to AfricInvest’s new multisector private equity fund to boost small and medium-sized enterprises in the continent.
CDC, the UK’s development finance institution, committed $50 million and Finnfund, the Finnish development financier, committed $20 million.
Fund IV will invest in mid-cap and growth-oriented companies in sectors including financial services, agribusiness, logistics, manufacturing, healthcare, and education.
It comes shortly after France's Proparco invested in the fund.